Yesterday, LG Household & Health Care (LG H&H) has launched a voluntary retirement program for sales and promotion staff in its beauty division, as the company continues to scale back its presence in traditional offline retail channels such as duty-free shops and department stores.
Applications for the program are being accepted from October 20 to 31 and are open to employees aged 35 or older (born on or before December 31, 1990), including both active staff and those currently on leave. The initiative applies primarily to sales promotion and instructor positions tied to the company’s beauty business.
Successful applicants will be notified between November 3 and 7, finalize resignation and handover procedures from November 10 to 20, and formally leave the company on November 21. Those who participate in the program will receive compensation equivalent to 20 months of base salary, along with additional financial support. Employees with school-age children will also receive tuition assistance of 5 million won for middle school, 7 million won for high school, and coverage of up to four remaining semesters for university students.
An LG H&H spokesperson explained that the decision comes amid a “gradual pullback from traditional offline stores such as duty-free shops and department stores,” noting that the company has been carefully considering how to manage its workforce amid changes in the retail landscape. “We decided to implement a voluntary retirement program in November to support a ‘second life’ plan for members who wish to retire,” the spokesperson said.
